Prime Minister Muhammad Nawaz Sharif chaired a meeting to review Public Sector Development Programme (PSDP) at the PM House here this afternoon.

Federal Minister for Planning, Mr. Ahsan Iqbal gave a presentation to the Prime Minister giving an overview of the PSDP spending of the current financial year as well as proposed allocation for the next year including projects which are part of China Pakistan Economic Corridor (CPEC) as well as LNG based power projects.

The Prime Minister was informed that 72% of the allocated amount of Rs. 525 billion has been released so far for the projects in Current Financial Year 2014-15.

The Prime Minister directed that steps should be taken to fast-track completion of important projects and ensure that the un-utilized amount is fully utilized.

He said maximum utilization of the allocated PSDP funds should be ensured so that development projects are undertaken in all parts of the country benefitting the masses. He further directed that funds be allocated in a proper manner where they are most needed.

The Prime Minister also approved change in the release mechanism of PSDP funds in each quarter of the year for efficient utilization of funds.